Electricity: REA signs 1,265 MW deal with five companies

Electricity: REA signs 1,265 MW deal with five companies

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The Rural Electrification Agency, REA, on Thursday in Abuja, signed Memorandum of Understanding, MoU, with five private developers to deliver a combined 1,265 MW of electricity to serve off-grid Nigerians.

Companies that signed the MoU with REA include A4&T Power Solutions, Eauxwell Nigeria Limited, Skipper Nigeria Limited, Havenhill Synergy Limited and Privida Power for the delivery of a combined 1,265 MW capacity of DRE projects.

This also include inter-connected minigrids (IMGs), isolated minigrids, C&I, and PUE (the “Projects”), with the purpose of electrifying peri-urban and rural communities (including markets, businesses, households, public institutions, health clinics and schools) in both weak grid and off-grid areas.

These projects fall under the Distributed Access through Renewable Energy Scale-up (DARES) project, which is administered by the Agency.

Furthermore, this partnership will bring about the introduction of new energy service models, including Virtual Power Plants (VPPs), enable the mass adoption of energy efficient appliances and PUE devices through sales, distribution and credit financing as well as bring about the introduction of a range of value-added services, including e-mobility, agricultural processing, cold storage and e-cooking.

The breakdown of the combined capacity of 1,265MW is as follows:
A4&T Power Solutions targeting the development of 315 MW , Privida Power to committ to the development of 200 MW, Skipper Nigeria Limited aiming to implement 250 MW, Euxwell Nigeria Limited, to focuse on the development of 250 MW, while Havenhill is planning to develop 250 MW of solar energy projects.

During the signing of the MoI, the Managing Director/CEO of REA, Abba Abubakar Aliyu said, “This is a landmark event under the DARES programme and the introduction of the Renewable Energy Service Companies (RESCOs

The RESCO model aims to provide developers with a platform to become utility companies where they can be able to attract investment to deploy mini grids.

“These developers have the capacity and track record to not only deliver mini grids but to manage large portfolios of projects as well as scale up. This MoU demonstrates our commitment to roll-out this RESCOs model.

“This MoU gives developers the opportunity to partner with REA to build mini grids under the DARES programme and become RESCOs. We look forward to this mutually beneficial partnership.”

In his remarks, the High Commissioner of India, G. Balasubramanian, stated “It is a pleasure and honour for me to be part of this MoU signing ceremony. India and Nigeria have had beneficial relationship in manufacturing and service industry since the 1960s.

“Skipper has been the implementing company of several electricity projects in Nigeria sponsored by the Indian Government. This signing will improve the bilateral cooperation between India and Nigeria.

“I am very happy that we are sharing our experience to develop the energy sector in Nigeria. I am very happy with this MoU signing.”

The representative of Managing Director of Eauxwell, Enwegbara, said, “We are very pleased to sign this MoU and we hope that we will be able to meet all our targets.”

The Chief Executive Officer of Privida, Omo Williams stated, “Thank you very much for this opportunity. We are solidly behind REA. We have to show gratitude to REA for this opportunity.

“We have worked in several countries but the Nigeria stands out and the vision and targets set by REA is unique. We will support the REA and will work towards achieving the targets set by the Agency.”

The Managing Director of Skipper Energy, Ankit Kumar, stated “We want to partner with leading policy makers like the REA to make an impact on the lives of Nigerians. We are delighted with this opportunity.”

The Managing Director of Havenhill Synergy, Olusegun Odunaya, stated “We are an indigenous company who has had several partnership with REA in the past and we are delighted for this opportunity to continue working together.

We believe that we will work together with the REA to deliver on this project and improve the lives of Nigerians”.

The CEO of A4&T Power Solutions, Ayo Ademilua, stated, “I sincerely appreciate the Management of REA under the leadership of Abba Abubakar Aliyu.

“The REA has always been ambitious snd supportive. The REA has always pushed developers to scale up and that is our goal.

“The Federal Government and REA has always provided the enabling environment for companies to thrive. I believe that what we want to do is achievable and with REA’s support we will be able to achieve our goals.

“We are thrilled to partner with REA to advance solar energy solutions that will transform energy access in the country.

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